China's leaders vow to fight 'risks' plaguing economy

Beijing's leaders vowed Thursday to resolve "risks" plaguing China's economy, but were yet to offer any concrete steps to pull the country out of its financial woes. The world's second-largest economy is grappling with a property debt crisis, weakening consumption, and an ageing population.

All eyes were on how this week's Third Plenum meeting of the Communist Party in Beijing, attended by President Xi Jinping, might tackle that deepening economic malaise. But few new policies were announced as the meeting wrapped up Thursday.They also vowed to "actively expand domestic demand", state media reported, after data this week showed retail sales -- a key gauge of consumption -- rose just two percent in June.